Binding Financial Agreement Lawyers Perth

Binding Financial Agreement Lawyers Perth

For a financial agreement to be binding, each party must have legal advice and the lawyer must sign an independent legal advice certificate. It is not possible for a lawyer to act for more than one part of a financial agreement. To meet this requirement, the lawyer must verify or prepare the agreement, receive detailed instructions from his client on the financial circumstances and other relevant legal matters to understand the possible outcome of a separation, and advise the client before signing the certificate. This process can take several weeks. Take control of your finances with Thomson Family Lawyers by your side. Our family lawyers are experienced in protecting your property through a binding financial (marital) contract in Perth. Contact us at (08) 6444 9911 to manage your financial settlement business today. A binding financial agreement can be simple or complex and cover all the financial matters of the parties or only part of it. The purpose of a binding financial agreement is: – Once the agreement is established, approve the document and it is sent to the other party`s lawyers so that they receive independent legal advice. At this point, counsel for the other party may request additional disclosure and also require that certain changes be made to the document. What we want to declare perth as lawyers for financial comparisons is that our clients should not confuse a BFA with a marriage contract, also known as Prenup. A prenup is an American concept that makes an agreement between two partners before marriage. This does not apply to Western Australia.

The BFA is a totally different concept applicable to Western Australia. To annul a binding financial agreement, a party must ask the court to annul the financial agreement. This constitutes a conflict of interest and we cannot see both sides. We have an obligation to provide independent legal advice to a contracting party. Both parties should be subject to independent legal advice on the impact of the agreement on their rights and on the advantages and disadvantages of concluding the financial agreement. Due to the complexity of binding financial agreements, it is advisable to get legal advice before entering into a contract. We are experienced in challenging and enforcing financial agreements, including in insolvency cases and transactions that are likely to go bankrupt. Lavan`s team of family law lawyers can help our clients prepare and review a binding financial agreement and ensure due process is followed. . . .


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